OPINION
ELLIOTT, Bankruptcy Judge:
The debtors appeal from an order dismissing their joint Chapter 11 case. We reverse.
Mr. Warner and his two sons work for an auto salvage yard. In mid 1981 appellee Universal Guardian Corporation (Universal) commenced foreclosure of a deed of trust they held on the Warners' home by filing a notice of default. On the eve of foreclosure the Warners conveyed the property to a newly formed corporation, "The Warner-Bothe...
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